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for that to happen. one senator is calling it not a great attitude in congress right now. >> senator? >> reporter: 7 tors arrived to continue last-minute negotiations hours before the nation is set to fall off of the so-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a little bit of movement when they are compromising which americans should should get ready to pay a higher tax rate. >> reporter: in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, vice president joe biden, to help in negotiations, this as the white house puts the blame on the impass
their value. congress, not much. >> zero. >> but can they avoid the fiscal cliff? senator gop john ba roost sew joins us later. no matter what deal congress strikes the capital-gains tax, it shoots up next year. we'll tell you what investors can do to stay in the game. more mony coming up ♪ . adam: well, less than seven hours until the new year and nothing rippings in the new year better than the government raising your taxes right? the capital-gains tax increase will be 20% from the current 15%. some argue that would generate more money from unsell cam. my -- uncle sam. my next guest has a long list of reasons that this would hurt the economy. he is the from the cato institute and head of downsizing dost government.org. thank you for joining us on this holiday. >> thank you. adam: why won't it raise more money if we raise the capital-gains tax? why won't it raise the money for treasury. >> capital is very mobile. we live in a globalized economy. if the united states raises its taxes on capital, in other words, investment, investment will flee across international borders. countries that
congress out of the straight jacket they've put themselves in. the vp and senate minority leader mitch mcconnell exchanged phone calls until midnight last night and again this morning, and appeared to be zeroing in on a tax rate compromise in the region of a $450,000 to $550,000 threshold. a higher rate than the president's earlier compromise as well as an agreement on the estate tax. sticking points remain. president obama seemed resigned to going over the cliff. >> if all else fails, if republicans do, in fact, decide to block it so that taxes on middle class families do, in fact, go up on january 1st, then on january 4th the first bill to be introduced on the floor will be to cut taxes on middle class families. >> and this morning former white house spokesman robert gibbs was even more blunt. >> the republicans simply can't utter the word yes. they cannot utter the word yes. i mean, i feel like it's -- i feel like you're talking to a 5-year-old, and, you know, you're saying, look, you have to eat your vegetables. the 5-year-old says, ah, you know, maybe. i will eat half of them, and yo
is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland would be hit hard. hundreds of millions of dollars and tens of thousands of jobs lost. >> we have a lot of federal workers and businesses that rely on the federal government. many are watching the negotiations closely. if partisan politics prevail and they cannot reach a deal, americans in maryland will burden will -- will be burdened. legislativent of observances had a report about what the impact would be. if we fall off the fiscal cliff. maryland will lose $178 million in funding next year. economists say to make up for it, the state will have to make cuts. >> it will be a challenge to make the ends meet. >> the greater economic impact could be huge hit in sales and income revenue. the state would lose about $268 million in 2013 and another million in 2014. >> small business inno
terribly wrong when the biggest threat to our american economy is our american congress. >> the senate will reconvene at 11:00 this morning, but after a day of public gamesmanship and little obvious progress behind the scenes on sunday. >> there's still significant distance between the two sides, but negotiations continue. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> mitch mcconnell called on vice president joe biden to be that dance partner. biden has brokered 11th-hour deals with the republican leader in the past. mcconnell's appeal came just hours after the president appeared on "meet the press" and called out republican leaders by name. >> congress has not been able to get this stuff done, not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> nbc's capitol hill correspondent kelly o'donnell is live
has signed an executive order giving returning members of congress a 1% raise. >>> and the senate did put in some extra work hours last night but there was some glumbling. one senator said quote this is definitely not a kunbaya moment. >>> now for a look at your new year's eve weather let's turn to bill karins. happy new year's eve morning. >> big day, right? >> it is. going to be a cold one. >> maybe not for i but for everyone it's a cold. a little bit of snow to talk about. no big blockbuster snowstorms. the cold air is the story. easily be the coldest week of the winter season. areas in white winter weather advisories from new mexico, north texas, panhandle of oklahoma across kansas, missouri, southern indiana and illinois this is where light snow is heading your way. winter weather advisory means slippery travel but not a blockbuster event and cancel your events. travel with care especially northern, the panhandle of oklahoma, up through kansas this morning the snow is breaking out shown here in white. we'll be watching missouri. traveling interstate 70 during the morning hours.
would see a tax increase of more than $3,400. as congress convened, even the senate chaplain praying to avoid what the president first called "self-inflicted wounds." let's bring in jon karl. he's been at his post every step of the way. the source has told you the vice president has been called in on this. >> reporter: that's right. i'm told the vice president is now playing a direct role in these negotiations, trying to get to a deal, a last-minute deal, a key player in the final hours. president obama set off the high-stakes weekend scramble friday night, imploring congressional leaders to take action immediately. >> the american people are not going to have any patience for a politically self-inflicted wound to our economy. >> reporter: with that harry reid and mitch mcconnell launched a last-ditch effort to craft a bipartisan plan to that would at the very least, protect most people from a big tax hike going into effect on new year's day. the senators and their staffs negotiated all day saturday. saturday night republican leader mcconnell made his offer. by this morning, a clear
, the democratic senator from iowa saying this deal doesn't look good to him. if a deal is reached in congress, the president still has to sign it. president obama set his terms and challenged the house and senate to get it it done. brianna keilar joins me now. is the president just sitting in the oval office waiting for a bill to get delivered to him? where's he in all of this? >> reporter: vice president biden is very much the president's proxy in all of this. it's easy to understand why. both the president and vice president served in the senate, but biden served in the senate for decades with all of the players that he now has to engage with. he knows the personalities. he knows the rhythms of the senate and of congress better than president obama, you could argue. it makes sense that he's serving as the president's proxy. this is something the president is engaged with. this is something the white house is very engaged with. he said yesterday he's optimistic that a deal can be struck. i think that's not surprising. that's what you'd expect to come from president obama. but we're also -- w
is and it is not the senate. it is not congress. it i the lack of true leadership of the president's. gei: gerr yes, you said that earlier. rich edson, we have been waiting for this all day long. we had cameras at the white house watching people exit. do you think this comes as a disappointment to mst people? the resolution of today and of that meeting? were leaving something good can come from a? >> i think after you hear from leership and the president, when you got the first reports, the administration officials have basically put on the table what he had been reitering last week in his speech. what was basically what he had put on throughout the entire campaign. st deal down version. it didn't look all that good. but as you now have this assignment for the senate leaders to get together and hammer something out, on a scale that we have been talking about right now, this is theonly hot we have to avoid the fiscal cliff. the fact that they are giving it another shot over the next 48 hours, it is probably as good of a result from the meeting as you could've expected. gerri: i love ending on an optimistic no
there be a deal, what needs to happen in both houses of congress for the stopgap effort to go through? >> first, the senate will come together and decide the taxes for the wealthy will go up. now the question is who is wealthy? households to make more than $450,000 per year will see higher taxes. the next obstacle is what is going happen with the additional money? republicans would like to use that money to reduce the debts and democrats would like to spend it. they will find a compromise in the next hour. let's be optimistic. everyone is optimistic that they will finally pass a bill. mr. boehner will then try to find a common ground with democrats in the house and they will have to pass this bill as well. i'm not sure whether they will be able to do that today, so what we might see is that the house will come together tomorrow morning and pass the bill then. >> what happens if there's no deal? to the bills get paid? >> i am somewhat optimistic. if they're not going to find a solution, i think the house will have to come together after the third of january and talk about that again. if they do
, congress members passed similar resolutions in both house and the senate to formally recognize the first 10 days of may as asian-pacific heritage week. one year later, president jimmy carter signed into law a joint resolution to officially designate the annual celebration. 11 years later, president george bush extended the weeklong celebration to an entire month. you know and i know that our mothers say that every day is asian pacific american day. i want to recognize all of the milestones the api has made in the state of california and in the entire country. the caucus has a record of 42 members in the asian caucus in congress. one of their very first things we want to say is it was a young man who was the first member -- we want to make note of that. the reestablishment of the white house initiative by president obama was another accomplishment. president obama's cabinets has dr. steven chu. the very first asian-american -- as ambassador to the republic of china. we have a lot of accomplishments. it was not that accident, my friends. everyone of you know that you work hard. all these thin
the senate veteran help congress stumble to a deal on the last day? if not, and we do go off the cliff, congress could be more likely to make a deal and quickly, because then lawmakers could claim they voted to cut middle class taxes. i'm steve handlesman, news4, capitol hill. >> if nothing else, it looks like there will be a deal to keep the price of milk from skyrocketing. leaders have agreed to a one-year ex-tense of the 2008 farm bill that expired in october. the deal will avert a spike in milk prices to as much as $8 a gallon. but it has to come to a vote in the house and senate tomorrow. a new report tonight further criticizes the state department for its response to the u.s. consulate attack in libya. nbc news s obtained an advance copy of the investigation. in it, it concludes that bad security allowed militants to walk right into the compound. the report criticizes the state department for failing to sufficiently respond to requests for additional security. the full report will be released tomorrow. >>> gusty winds made for a very chilly day here in washington, and they also
. >> so it's no burning the midnight oil for the senate because they're gone, and congress now, do we know? >> reporter: the senate has decided to formally -- the senate majority leader harry reid said about an hour ago that effectively there won't be any votes tonight. so the hope for getting a deal today that the senate can vote on which was the hope even going into the day, that's not going to happen. in fact, the house, they brought people back for a vote tonight just to have people here in case the senate could vote on something that they could send over to the house. none of that is going to happen right now. the senate is not going to come in for any votes until 11:00 a.m. tomorrow. that is just 13 hours before the clock strikes midnight so they are certainly cutting it close. not a lot of -- certainly a lot of pessimism in the halls here. a lot of tension. a lot of anxiety. a lot of frustration, and certainly that frustration is not just within the walls and halls of congress. it's coming from outside in a big way. >> dana bash, stay tuned or we'll stay tuned to you. thank you. >>
. congress putting your money at risk. may be a last-minute vote in the senate today. again, that is more than 517 days after they could have fixed the thing to start with. in case you weren't angry yet, president obama sign the executive order that gives executive worker as a pay raise. won wonders whether congress has earned their raise. grover and i have never agreed on anything rat all except the fact that congressmen shouldn't have had a raise on thursday. good morning, goo to see again. >> good morning. >> you continue to engage in the conversation which i always appreciate. let me ask you this, you don't want taxes going up on anyone. but when things looked like they were aat an impasse and house speaker john boehner, the highest elected in the country. put forward his plan b about a week ago, you read it through, and you said you would be okay with people who had signed this anti tax pledge of yours voting for that bill. voting for an increase of taxes. and you will phrase it differently. voting for something that will allow taxes to go up for those that make more than $1 million
whether the senate will vote today. congress could pass it red rho actively. >>> breaking news in prince william county. we have just learned a county police officer died following in fiery crash at the intersays of nobodiesville road and piper lane. officer chris young was riding on a motorcycle at the time. you can see the van was the other vehicle. we're still gathering information about this accident. we'll bring you more throughout the evening. >>> it's been a cold new year's eve so far today. doug kammerer has the forecast for us. >> things looking okay out there. look for a sprinkle, maybe a flurry, but don't expect it to impact your plans. take a look, and the cloud cover continues to make a way in. you can see a lot of what looks like rain and snow back toward the west, but most of this not reaching the ground. the atmosphere just a little too dry. as i mentioned, maybe a sprinkle or flurry. later on, i'll update the exact midnight temperatures. many of those locations all looking pretty good. i'll talk about that coming up, plus how cold will we start off 2013. >>> about a mill
for something that has been months in the making, what does it say about the senate and the house and congress's ability to tackle big issues, and if the american people are skeptical about that very thing, do they have a right to be? >> yes. absolutely. the folks who i hear from, delawareans who are calling me, e-mailing me, sending me responses to a position paper, a white paper that i put out on the fiscal cliff weeks ago, uniformly say why can't you all get along? why can't you reach a reasonable compromise? delaware's political culture is one where we pass balanced budgeted on time every year at the city, county, and state level. unlike many other states where they have months and months of wrangling passed their constitutional deadlines. ours is a representative system. the house and the senate is made up of members who have been represent -- they've been elected, and they represent the districts that they're from. part of our challenge in tackling the significant unaddressed deficits and entitlement challenges and the needs -- the investment needs we have to strengthen our economy and t
on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> how did we get to this, congressman? he right? >> yes, he is. really it's the inability of congress to control spending. that is why we're in this pickle right now. we're spending $1.2 trillion more than we're taking in every year. and so he is completely right. i think people are right to see congress as dysfunctional. that's why we've got to deal with this today or tomorrow or the next day in a way that fixes this long term, not just gets us out of the pickle for one day. and that's my concern is that, you know, we'll finally discover bipartisanship and that bipartisanship is everybody turns their back while everybody spends money. and that's what we've done in the past and we just can't continue to do that in the future. >> congressman, soon to be senator, good to have you on the program. happy new year to you sir. >> thank you. >> so, susan, we've been telling people since i went on the air last night that the congress is going to be back at 11:00. what happe
likely is it that congress, the senate and house side will pass this? >> i think that there will be liberals who will reject this deal, whenever the deal finally emerges. some liberal democrats in the senate, maybe senator tom harkin, for example. some conservatives will reject it because the top 2% see those earning more than $450,000 see their taxes go up. they might reject it. i think there will be a significant bipartisan majority in the senate that will pass it. if the president comes out and says he can live with this, and this is a compromise but he's not getting 100% of what he wants, the president says if the republican and the democratic leaders in the senate, harry reid and mitch mcconnell, if they say that, there will be a significant bipartisan majority in the senate. the house speaker john boehner suggested at the white house meeting the other day that whatever passes the senate he would allow to come up for an up or down vote in the house of representatives. if he allows that to happen and the democrats are on board, there will be a need for some re
there is correct. if there's agreement out of the united states senate it is voted on tonight and the house tomorrow. a lot of folks in the house really view the deadline as 11:59 a.m. on thursday. that's when this congress by law has to adjourn. so between now and then we're going to get a back and forth, sequester delay and mike just spoke about. i want to say one thing which i think we're missing over here, guys. the fact to agree here in washington, d.c. about these numbers at $400,000 for individuals and $450,000 for couples, think about how much this is argued over over 10 years in washington. these tax levels. not just sunsetted later on, it's for couples and individuals permanently and a huge deal and what mitch mcconnell was trying to say, we have come to this agreement. voting to raise taxes. that's huge for republicans. don't scuttle it because of some hiccup over the sequester. now a lot of democrats who don't like this, they want the president to fight. remains to be seen is that can it pass the house gop? house republicans said any type of deal that doesn't cut spending will n
action that there was no vote in the senate. majority leader, harry reid says lawmakers negotiated through the night and expected to come together around 11:00. if congress doesn't agree, spending cuts will go in to effect and we will pay more taxes. the impact is more than $3400 in a year. >>> she was supposed to return to work this week, instead, secretary of state, hilary clinton is in the hospital. treated for a blood clot that resulted after a fall earlier this month. >> reporter: hilary clinton was admitted to new york presbyterian hospital with a blood clot from a concussion she suffered several weeks ago. he doctors discovered the clot earlier in the day during a follow up exam. no details of where the clot is or other concerns have been releasede first time clinton has been diagnosed with a blood clot. in 98 she was admitted for a clot behind her right knee. the 65-year-old had a stomach virus this month and became dehydrated, fainted and struck her head. she canceled the trip abroad and was not well enough to appear on capitol hill to testify on the attack in libya. docto
basis, without impacting people directly now. >> chris: senators, we need to take a quick break, when we come back we'll discuss where the investigation of the benghazi terror attack stands now, and, whether congress will act in the new year to try to prevent more mass murders. ♪ to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've got coastline to explore and wildlife to photograph. and there's world class dining with our world famous seafood. so for a great vacation this year, come to the gulf. its all fabulous but i give florida the edge. right
that kept even most members of congress in the dark. the white house and senate leaders have been trying to beat a deadline they created to stop massive tax increases and automatic spending cuts that could trigger another recession. but one breakthrough did come today. >> i can report that we've reached an agreement on all of the tax -- the tax issues. >> reporter: a genuine compromise on taxes. most notable, rates would go up for couples earning above $450,000 a year. and today the same for everyone else. but they are divided over how much and how soon to cut government spending. and people are frustrated. >> sometimes you wonder, is it all just for show, or, you know, what's really going on behind closed doors? >> reporter: come midnight, your takehome pay shrinks. income taxes go up for everyone. roughly $2,400 next year for a family making 50 to $75,000. the 2% payroll tax break ends, costing an average worker another $1,000 a year. higher taxes on savings and investments. families will pay more on large inheritances. and for those on hard times, out of a job longer than six months,
to use the money? >> senator, we heard president obama say in an interview that if congress can't get anything done and we go over the fiscal cliff, that plan "d" essentially is to have another vote on january 4th when the new congress comes in, and that would just be a straight up or down vote on extending tax cuts for middle class families making up to $250,000 a year. do you think that's what happens? >> i'm hoping that we resolve this today to give the american people some certainty. the president doesn't seem too eager to actually get involved and find solutions to deal with the number one problem facing our country. if you do what the president just proposed and raise taxes on those folks, it helps fund the government for seven days. it doesn't deal with our fundamental spending problem in this country. bottom line is the president is the only one with a pen who can sign into law something and he ought to be very involved with making sure that he gets something that he will sign that will pass both a republican controlled house and a democrat controlled
you. >>> we are taking a look at our other top stories. still no deal. this as congress and the white house now have less than 24 hours to come up with a solution to the looming fiscal cliff. the senate will meet again later on this morning to continue their talks following a rare marathon meeting yesterday. on meet the press, president obama called on lawmakers to reach an agreement. if no deal is made, it would be the large of the tax hike since world war ii. >>> secretary of state hillary clinton remains in a new york city hospital this morning after doctors discovered a blood clot stemming from a concussion she had earlier this month. now, a spokesperson for clinton says she is being treated with medication and will most likely stay in the hospital for the next 48 hours. the clot was discovered yesterday during a follow-up appointment. >>> same-sex couples in maryland will be able to marry tomorrow on new year's day. state lawyers said because january 1st is a holiday and because there is a two-day wait period for licenses to take effect, they could not marry until january 4th. th
to pay for several months of that so the new congress can work that out. he is senator mcconnell. >> i reached out to the vice president in an effort to get things done. i am happy to report the effort has been a successful effort. as the president just said in the television appearance, we are very, very close to an agreement. we need to protect american families and job creators from this looming tax hike. everyone agrees that action is nets. i and report that we have reached an agreement on all of the tax issues. we are very, very close. as the president just said, the most important piece is the piece that what -- has to be done now, preventing the class hikes. >> a lot of republican aides are accusing the white house of moving the goalpost by, at the late hour, throwing in this other issue, the sequester, the defense and domestic cuts that are obviously a big issue but they feel like they can do that in a couple of months. the bigger concern is they have worked out an agreement on all the different taxes due to kick in so mcconnell is pointing out, let's do that now. >>trace: now
hikes and spending cuts in. >> danielle leigh has more. >> congress is waking up from an intense weekend. >> the senate stands in recess. >> they will not meet again until later this morning. in atre going to come 11:00 a.m. tomorrow morning and we will have further announcements perhaps at 11:00 in the morning. >> hold because of what aides described as constructive movement over the weekend. avoiding a jump in inheritance taxes. republicans dropped a demand to cut social security. >> the consequences are too high for the american people to be engaged. i am interested in getting a result here. >> i think it has been hard for john boehner and mitch mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit. >> yesterday it was republicans waiting on democrats for a counter offer. >> mitch mcconnell called the vice president for help. lawmakers will scrambled into the final hours. republicans will likely push for reforms they give up this time around on the debt limit debate in the new year. danielle leigh, wbal-tv 11 news. >> maryland could be hard hit
to be rushed through both chambers of congress before midnight. as talks in the senate stalled yesterday, minority leader mitch mcconnell reached out to someone he believed he could help jump start the negotiations and perhaps deliver an 11th hour compromise, and that would be vice president joe biden. mcconnell and biden reportedly spoke several times by phone throughout the night after talks with harry reid came to a halt. >> there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness, an interest, or frankly the courage to close the deal. i want everyone to know i'm willing to get this done. but i need a dance partner. >> before i continue to set the scene, anyone here think biden can make a difference? dan? >> not before the end of the day. i just think that even if the senate -- even if they work out a deal that's acceptable to the senate, then it's going to go to the house. speaker boehner has said they'll either vote on what the senate produces or amend it. that's a lot of work to get done within a day. and i think there are a
have to be rushed through both chambers of congress before midnight. as talks in the senate stalled yesterday, minority leader mitch mcconnell reached out to someone he believed could help jump-start the negotiations and perhaps deliver an 11th-hour compromise. that's vice president joe biden. mcconnell and biden reportedly spoke several times by phone throughout the night after talks with harry reid came to a halt. welcome back, everyone, to "morning joe." that's the latest. ed rendell and jeffrey sachs all with us along with sam stein and michael steele in washington. joining us also in washington, senior national correspondent for "bloomberg businessweek," joshua green. and joshua, before we go on to what led to this doomsday scenario that we're facing right now, which was all set up by lawmakers in washington, talk to me about what businesses are looking for and wall street is looking for. there will be reaction. there's always this discussion about the need for certainty. at best, we're going to get some sort of small deal that puts everything off, which makes this whole deadli
to be rushed through both chambers of congress. house speaker boehner and his rank and file are sitting on the sidelines waiting to see if it will be a deal or no deal from the senate. >> this whole thing is a national embarrassment. i think it's an embarrassment to the president. it's an embarrassment to both sides of the aisle and both the house and the senate. >> how do you get out of it? >> first of all, whatever happens today is really inconsequential. >> ultimately, you're going to have to have people come together in a bipartisan way to get this done. you're not going to be able to get an agreement passed with just republicans. >> republicans simply can't utter the word "yes." they cannot utter the word "yes" without them uttering the word "yes" we can't get a deal. look, this is -- i feel like you're talking to a 5-year-old and, you know, saying, look. you have to eat your vegetables. >> we went over the cliff a long time ago. we just didn't know it. look at the leadership that we have leading us. i mean, it's like lemmings. come on. >> all right. that's what's being said right
the highlights of this congress. no farm bill. by the way, the debacle we saw on the senate on the u.n. disability treaty right in front of bob dole. that was just a bizarre moment, if you will. this fiscal cliff. three budget standoffs. i mean, this congress has been uniquely atrocious. >> tom? >> the fact is the system is rigged. 75% of the congressmen come from gerrymandered districts in which they are bulletproof. they only play to one constituency. they have a choir back home. and that's a huge part of the problem here. there's another reality in this town today. we need a lighter moment here. a lot of folks as i was coming into the office today said they have to get it done by kickoff time tonight. >> that's right. >> it's a good thing nbc moved the kickoff to primetime. it's very important. >> david, i think it's also important to go back to the president's argument, that, you know, you have to be able to say yes to something that's reasonable. conservatives have argued that he's effectively exposed big internal divisions in the republican party that they have yet to work out,
the pressure is on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure that middle classes taxes stay where they are and there should be an up or down vote. i think there's a majority support for making sure that the middle class families are held harmless. >> if you go over the cliff, what's the impact in the markets? which have been pretty confident until now that a deal would get done. >> it's hard to speculate on the markets. but obviously i think business and investors are going to feel more negative about the economy next year. if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would continue to tick down, housing would continue to improve. but what's been holding us back is the dysfunction here in washington. and if people start seeing that on january 1st, this problem still hasn't been solved, that we haven't seen the kind of deficit reduction that we could have had, had the republicans been willing to take the deal that i gave them, if the
. doctors will monitor her condition. >> next, we will hear from members of congress about negotiants surrounding the fiscal cliff. senate majority leader harry reid, followed by senator john thune, then senate floor speeches from barbara boxer, joe manchin, and kay bailey hutchinson. >> the majority leader is recognized. i was glad to hear that republicans have taken their demand for social security benefit cuts off the table. it should never have >> they should never have been on the table to begin with. at 11:00 in the morning. i certainly hope >> next, republican senator john thune. >> thank you. i will first of all thank both of my colleagues for the diligent work -- they have committed themselves to this work and i appreciate it. mr. president, i rise today frustrated, embarrassed, and angry. it is absolutely inexcusable that all of us find ourselves in this place at this time, standing on the floor of the senate in front of the american >> thank you for the update. midafternoon today, senator john thune spoke with reporters on where things stand on the fiscal cliff. >> where do
cliff deadline, no timetable on when votes would happen in the senate and later in the house. congress is taking up to the last second. it could be well into the evening if anything happens. you can also join the conversation on our facebook page. what is your message to washington -- forge a compromise or go over the cliff? let's get to your phone calls. we have a caller from norfolk, virginia. caller: good afternoon. i just want to say that when everything goes through, i am hoping that people like me because i am a single person and i live by myself, i am hoping that taxes will be low enough for a person like me so i will not have to owe a lot of money back. that is my main concern. host: as you watch the process unfold, what are your thoughts? caller: i think the president is doing a good job and i pray he can find some type of solution so that a person like me can actually make it in this economy. host: next is louisville, kentucky, good afternoon. caller: good afternoon, i am more of a libertarian/republican. it is ridiculous that the president is playing class warfare against th
? >> yeah, i don't think there are any winners. senator mansion of west virginia said it best, quoted in the wall street journal n when he said there's something terribly wrong when the problem with the u.s. economy is the u.s. congress. and i think that's it. people are pretty fed up, and all they're trying to do really is sort of damage control, andct not make themselves look worst than they look. >> lot of, just observers hereob in all of this, is this going to be the new normal, unproductive do nothing congress?co >> i think because of the political complexion of things, and extremism is sort of appreciated, and that congress people view just staying in office rather than doingdo something for the betterment of their country, coupled with just the institution that there's ath republican house, democratic president, a democratic senate, you are always going to have problems, but you have moremo problems than 10 or 20 years ago because of the political psyche of the elected officials. >> so many people thought, nowth that president obama was reelected, that we still wouldn't receive
fiscal cliff vote even if the senate does pass something tonight as you look at the senator from missouri speaking on the senate floor. that means the country is going over the fiscal cliff technically. as we have known congress to do before, you can have maneuvers by which they rewind the clock and if they go into tomorrow and they actually pass a piece of legislation they can rewind it to the point they need to be. some of the stipulations about the sequester and those are the across-the-board cuts do not kick in, until january 2nd so those are some of the things people are talking about. however, the biggest thing that everyone is talking about, are there really the votes to get this through? not only the senate, but, primarily, in the house of representatives? >> we know plan "b" which looked for tax hikes of earners over $1 million a year, so some of the framework, lowering to $450,000 joint filers so if you do not get $1 million passed in the house it is unlikely you will get $450,000 passed and the minority leader if the senate seemed near tears, senator mcconnell. it seems a mess.
desk. >>> it's down to the wire. less than 24 hours from the miss cliff deadline. congress is reportedly inching closer toward a deal. the house will reconvene at 9:00 this morning. the senate will return to capitol hill at 11:00 a.m. talks hit a standstill yesterday after mitch mcconnell proposed social security cuts. democrats rejected the plan, aides say. there has been what they call constructive movement on key issues like taxes, including a compromise on where to set higher rates for wealthier americans and avoid a jump in inheritance taxes. vice president joe biden is taking over as lead negotiator for the democrats. >> still time left to reach an agreement. we intend to continue negotiations. >> i want everyone to know i'm willing to get this done. but i need a dance partner. >> if a deal is not reached by midnight tonight, taxes go up for 9 out of 10 americans and 2 million people without jobs will not get unemployment insurance starting tomorrow. sharp cuts in defense spending and domestic programs will kick it in on january 2nd. >>> if nothing else, it looks like
. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage, we're not able to make a counteroffer. it appears that there are things that stop us from moving forward. >> reporter: that prompted mitch mcconnell to call for a lifeline. >> i also placed a call to the vice president to see if he could help jump-start the negotiations on his side. i want everyone to know i'm willing to get this done. but i need a dance partner. >> reporter: and with that, vice president biden has now emerged as a key player, playing a direct role in the effort to strike a last-minute deal. the key sticking points remain the same. the white house wants taxes to go up on those making over $250,000 a year. republicans want a higher income threshold. they want to keep the esta
of the call to dome. that means that congress is in session. they are trying to get legislation moving on the senate floor. technically tonight the u.s. goes over the fiscal cliff. we'll talk about that and we'll have details with the panel coming up. this, of course, is new year's eve. the last day and night of 2012. hundreds of thousands of revelers around the globe expected to cram in new york city times square to see the ball drop and ring in 2013. you are looking live there at times square. ray kelly says times square will be the safest place in world tonight. celebrate all american new year's 2013 with my colleagues megyn kelly and bill hemmer. back again. you have don't want to miss it. where are you spending new year's eve? anything interesting? let me know on twitter. follow me -- @bretbaeir. interesting story. mexican drug cartels are looking north, but way north. halfway up to california to move their product. >> e, tortion to vicious crime and working with street gang. are mexican cartels strengthen their grip in california? >> yes. what concerns me is the political shift i
off the table. if there's no deal today, they'll cut taxes in three days when there's a new congress. >> focusing back on the senate, how important is vice president biden? >> the only person with any sort of warm relationship with mitch mcconnell is joe biden. the president doesn't have one. harry reid and mitch mcconnell do have one, it's on again, off again, but it can deteriorate quickly as we saw yesterday. biden is important. if there's anybody with a personal relationship in the white house -- if you can fault the white house for one big thing, it's the lack of developing a personal relationship with mitch mcconnell, between the president and him. there is one between joe biden and him. >> chuck todd, thanks. >> you got it. >>> let's get to the morning's other top stories. andrea canning is in for natalie at the news desk. good morning. >> good morning. and happy almost new year's to you. and happy new year's to you at home. authorities are hoping to speak with a seriously injured bus driver. at least nine people were killed and 26 injured. the bus was returning to canada afte
. >> the president says he will put forward a very specific proposal and would like to get through congress in the first year of his new term. >>> the senate has approved a $60.4 billion recovery package for areas affected by superstorm sandy. the bill faces an uncertainty future in the house. >> reporter: there are a couple of reasons why the $60.4 billion aid legislation for sandy may languagish in the house. number one, the cost, and number two, the calendar. some lawmakers are uncomfortable with the costly package, with the nation's tight economic situation they might want to scale it back or include cuts elsewhere. here is one gop congressman from south carolina. >> we live in hurricane alley. it may be me next, my district after the next hurricane. we absolutely have to pay for it. it's the right thing to do. we cannot continue to borrow this much money to pay for things that we want but want to pay for out of our tax money. >> reporter: the possible holdup in the house prompted the governors of new jersey, new york and connecticut to send a letter -- >> reporter: the second difficult
that was obviously a little too much to hope for. one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> those remarks might not have helped matters with senator john mccain taking to the floor moments later to, you guessed it, slam the president. >> as i sort out my impressions of the president's remarks as to whether to be angry or to be saddened. we have the president of the united states go over and have a cheerleading ridiculing of republicans' exercise. >> well, perhaps mccain is upset at not being in on the top flight dealmaking. lead negotiations have now fallen to vice president joe biden and senate minority leader mitch mcconnell who said an agreement is very close and said congress should act on the tax portion of the deal. >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. we can do this. we must do this. >> famous last words. i want to go to the capital now. joining us, the dynamic duo, the silver fox and mr. boa
's on congress to produce. if they don't, what i have said is that in the senate, we should go ahead and introduce legislation that would make sure middle-class taxes stay where they are and there should be an up-or-down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. host: the president yesterday speaking. that led to a response from the speaker of the house john boehner. he issued a statement that included these words -- he says the president is the one who has never been able to get a yes. house passed legislation to avert the entire fiscal cliff canada and the president has never called for the senate to act on those skills in any way." it's part of a six-paragraph statement from the speaker of the house yesterday afternoon. guest: it's a lot of back-and- forth. it's a lot of finger-pointing. they should all be in the room. they should be working on this until it gets done. every member of congress should feel an obligation to be putting forth solutions. it seems to me that there are far more focus on the political gains or dow
congress in history? >> the public is implicated in this. 2008 the public elected president obama, democratic house, democratic senate. 2010, a large number of people in the public changed their minds they got angry at us over health care, which was misunderstood, angry at us because we inherited a section that we weren't able to defeat because of their obstruction. in 010 -- in most democracies that would be it. we have a constitution under which it's called the staggered powers, checks and balances, the last three elections are there. the problem is in 2008 you had one group of people elected, in 2010, another. there wasn't simply the people in 2010 were conservative. very substantial number of the people elected as republicans in 2010 do not believe in governance. they do not understand there are things we need for the quality of life we have to come together. this isn't bob dole. this isn't howard baker. this isn't ronald reagan. these are people that are quite extreme. what's happened is that many republican whose believe in compromise and trying work things out some defeated
pledge worth taking when you get elected to the united states congress is to the constitution of the united states. >> let's back up a little bit. talk about what's happened over the weekend what's going on in the senate and seeing that rita cannot seem to come to any sort of agreement now that the vice president being called in. what does that say when the vice president is being called in to broken some sort of a deal? >> well, obviously, phil roe before me said wouldn't it have been nicer if regular order would have worked? i agree with that but we were out in recess for 15 weeks not doing this job. so the fact that you got to call in the cavalry at the last minute to rescue a deal if that's what it takes, so be it. but what's important to me is we try to avoid this cliff on behalf of the american people and the clock is ticking. >> and especially we have such an interest in this locally with sequestration and the cuts the spending cuts we're looking at. a big portion coming from the defense budget which affects the defense contractors around here. are we looking at them ha
. >>> with this congress that was obviously a little too much to hope for at this time. >> tonight senate lawmakers are close to locking in a hard fought deal to avoid the fiscal cliff. but there are still some major sticking points, especially over spending and house leaders say they won't vote tonight. still the headline tonight is that the two sides seem to have agreed on how best to address the bus era tax cuts. randall pinkston now with the very latest. >> the senate is close to a deal, as the clock ticks toward midnight and the nation teeters on the edge of the so-called fiscal cliff. >> passed the tax relief portion. now let's take what's been agreed to and get moving. >> reporter: the tentative deal
're telling a story we're a very dysfunctional congress all of a sudden becomes functional. >> -- senate in the right place -- >> exactly. the fiscal cliff policies were designed basically by congress to save itself from itself. >> right. >> and if it takes effect -- >> not aspirationally but actually. >> actually as a backstop. now everybody in this whole, let's avoid this fiscal cliff -- >> as a -- >> we're going over the cliff. we've forgotten what the policies were there to do. >> as a markets guy, if there's a viewer who has money invested in the market, should they be invested in the markets if they've got cash sitting on the sidelines and see futures down today, should they say should i be buying into this? things are going to be okay? >> here's the question, you're asking before, andrew, i actually think, and probably a minority in this regard, it doesn't really matter what i think, the market may not agree with me. i actually think that fundamentally there's so much underlying strength in this economy we are in a position where we could actually go over the fiscal cliff, take th
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